According to Schedule III, arrange the general steps involved in classifying an item as Current or Non-current:
(P) Items are classified as Current if they meet specific criteria
(Q) Items are classified as Non-current if they do not meet the current criteria
(R) Assets and Liabilities are bifurcated into Current and Non-current categories
(S) Specific criteria (operating cycle, 12 months, etc.) are applied to items
1
R, S, P, Q
2
S, P, Q, R
3
R, P, S, Q
4
P, Q, R, S